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Hey Mossed, the S&P 500 is at 795

Discussion in 'Political Discussion' started by PatriotsReign, Feb 17, 2009.

  1. PatriotsReign

    PatriotsReign Rookie

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    Mossed, I know you've been waiting to see if the S&P 500 will get below 800....well, it's happening. That's not to say the PPT won't step in and get back obove 800 before the day ends.
  2. PatsFanInVa

    PatsFanInVa PatsFans.com Supporter PatsFans.com Supporter

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    PPT = automatic trading cutoff program? I know it must stand for something and I'm pretty sure it doesn't mean Microsoft Powerpoint actually controls the S&P...
  3. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    Clearly the stock market LOVES the Obama Spending Plan.
  4. sdaniels7114

    sdaniels7114 Rookie

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    He's likely talking about this.
  5. PatriotsReign

    PatriotsReign Rookie

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    EXACTLY! The Plunge Protection Team could be on the move today! The markets were crashing big time this morning, but have now stabilized somewhat for now. it could just be investors or it could be forces from "Outside" the market.

    Who knows?
    Last edited: Feb 17, 2009
  6. BelichickFan

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    They're about what the futures pointed to. We'll see what the day brings but being down 300 in the first 10 minutes doesn't mean they'd drop 300 every 10 minutes without your PPT.
  7. PatsFanInVa

    PatsFanInVa PatsFans.com Supporter PatsFans.com Supporter

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    Okay now I have a mental picture of guys in business suits and capes flying in with massive plungers in hand...
  8. PatriotsReign

    PatriotsReign Rookie

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    I understand that...that's why I said "who knows?"

    It's just one of those mysteries. If there is such a team...actually, it's a fact that there is a "team", but we don't know exactly what they do. but if they bought & sold stocks to prevent "plunges", how would you feel about that?
  9. PatsFanInVa

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    Can't say how concerned one can be, given that the government buys whole companies now, never mind stock.
  10. Run DMC

    Run DMC Rookie

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    Now that 800 is violated, the wheels are now going to fall off. Long term Dow support is at 7200 and 6400. Spy support at 675. Good luck.
  11. Run DMC

    Run DMC Rookie

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    Looks like we will successfully retest the november lows today. I would say now and Monday is the time to start your buying. I picked up emerging market shares today. I will hold my silver for 2 more more weeks, then I am selling it at a nice profit. There is a slight possibility that we may hit 6000/600 in the Fall, but we are definitely very close, if not at the lows, on the market. I am buying today and have been and will continue to dollar cost average in my 401k. I think the worst is over but it will probably very slowly and quite normally go up for the next 8 or so years. Risk to reward is just too compelling right now in favor of the stock market. Happy trails.
  12. BelichickFan

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    I also moved some of what I had in cash back into the market today. I don't have a clue if we're at the low and I wouldn't have done it had I needed the money in 6 months but I do think that long term we'll consider this close enough to the bottom to start putting some back in.
  13. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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  14. Run DMC

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    Market will rally this week. Don't worry the water is safe:
    white-shark-kayakTpeschak.jpg
  15. PatriotsReign

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    Awesome picture!
  16. Synovia

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    Just as it loved Bush? The DJI was 11K when bush took over, and 8500 and trending down hard when he left.
  17. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    I didn't say anything about Bush. If Bush is your only defense of Obama there's a problem. Bottom line, it's down about 30% since election day. I'm still waiting the for change I can believe in.
  18. Real World

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    B o o o o o o o s h
  19. Bigdogx

    Bigdogx Rookie

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    It's a continuing trend on this board, the democrats know Obama is handling this situation completely wrong, they know it will fail along with Obama, but they are still to proud to admit their guy is no different then the last. Maybe in a few years they will admit it, but for right now they will just continue to talk bush when we are talking Obama, it's the only thing they can grasp at right now.
  20. Synovia

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    I'm sorry, but the president elect is not responsible, and has control of nothing, between Nov and January.
  21. Synovia

    Synovia Rookie

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    And the republicans think that Obama was responsible for a stock market crash thats been happening since mid 2007.



    Its amazing that he was powerful enough to crash the market a year before the election.
  22. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    First I am not blaming Obama - not did I blame Bush as the current problems have been coming since before either one.

    However, the elected President absolutely does have a strong influence between November and January as the market votes on his policies - and he's not getting a passing grade.
  23. Synovia

    Synovia Rookie

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    The market does not know what the incoming president's policies are between November in January. IE, The market works on rumor, and guesses, because the incoming President does not set policy until he becomes president.


    IE, its got nothing to do with the actual president. Its got everything to do with people guessing and panicking. In this case, its republicans being afraid of democrats, despite the fact that the market has been in the grips of a crash for a year and a half now.


    Its fear thats causing a lot of this, and Fear is the way our last regime ran things.
    Last edited: Feb 23, 2009
  24. Real World

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    Last I checked, this regime is using fear too.
  25. BelichickFan

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    Huh ? We all knew what Obama was about. Spending, taxes, etc. Whether you like those things is for a different discussion but we knew who Obama was and the market clearly reacted off that.
  26. Run DMC

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    Looks like 600/6000 on SPY/DIA is now a given. Ugly.
  27. Patters

    Patters Moderator Staff Member PatsFans.com Supporter

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    Most of fault for what's going on now rests with Bush. After all, he made the decision to cut taxes and increase our deficit; he made the decision to continue with policies that he could have changed when he controlled Congress; he made the decision to take no decisive action with the economy except at the very very end of his term.

    At this moment, I agree Obama does not getting a passing grade, but his economic policies have not yet been implemented. I think when money starts pouring into the economy, the market will begin to recover. But, the big question is the global economy. I think Obama's approach is sound for the American economy, but he can't do too much about what is going on elsewhere in the world, where the market for American goods is dropping along with those economies.

    I think Obama is more focused on creating jobs and preventing the poor and middle class from losing their homes than he is on taking care of Wall Street. While both are connected, I think it's more likely that Obama's plan will benefit the ordinary working person more than it will benefit Wall Street. That said, if the plan gets people back to work, Wall Street will slowly recover.
  28. Run DMC

    Run DMC Rookie

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    Marc Faber, who is a very good prognosticator says it's getting to be time to buy. I am averaging in at these levels. The level of bearishness out there right now is simply amazing. I've never heard such pessimism. Good indication, we are nearing the bottom in my opinion.
    Bloomberg News
  29. PatriotsReign

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    If it gets down that low, it will be amazing. After that, there will be one big question.

    -Will our economy ever fully recover?

    My personal theory is that we will have a smaller economy and lower salaries & prices of goods and services. Everything in our economy grew at a hyper-pace over the past 20 years...for various reasons. NOw everything will be dialed back years.

    In the long run, that may be good for us to be more competitive on a world-wide basis. It's just a shot in the dark, but that's all anyone has right now.
  30. Run DMC

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    Steve Ballmer, CEO of Microsoft echoed that exact sentiment. The USA of easy credit and mega-leverage is gone forever. Well paying steady jobs will be hard to find. Consumption will be ratched down. Life is forever changed here in the USA. I only hope they nationalize these zombie banks and do not repeat the mistakes of Japan, or we will go nowhere economically for the next 20 years.
    Microsoft’s Steve Ballmer Bubble-Pops at Democratic Policy Confab: The Full Speech | Kara Swisher | BoomTown | AllThingsD

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